FX.co ★ Technical analysis of USD/JPY for April 15, 2014

In Asia, Japan will not release any economic reports and the US will release some economic data such as Core CPI m/m, CPI m/m, Empire State Manufacturing Index, TIC Long-Term Purchases, NAHB Housing Market Index, Fed Chair Yellen Speech. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with medium volatility during the US session.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.43.

Resistance. 2: 102.23.

Resistance. 1: 102.03.

Support. 1: 101.78.

Support. 2: 101.58.

Support. 3: 101.38.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.38) and resistance 3 (102.43). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

https://instaforex.com

For more analysis go to: blog.mt5.com/arief

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